Invest Northern Ireland has announced support of £100,000 towards a £433,000 investment by Eurostock Foods Newry Limited. The company processes a range of frozen meat products for the retail market.
The investment will enable Eurostock Foods Newry Limited to develop its current processing facilities and improve the company’s sales and marketing capability. In addition to safeguarding a number of jobs at the company the support will also lead to the creation of 19 new jobs in a New TSN area.
Welcoming the announcement Maynard Mawhinney director of Biotechnology and Food with Invest NIsaid: “This is an important investment by Eurostock Foods. It will enable the company to extend its product range, increase and diversify its customer base and provide a platform for further growth. This project is a good example of the type of approaches proposed in the Food Strategy Group’s Report ‘Fit for Market’ launched recently to develop capability and foster innovation.”
Gary White, Managing Director, Eurostock Foods Newry said:“After undertaking considerable test marketing for a range of Patagonian lamb products we now intend to fully market the range with support from Invest NI. This investment will enable the company to reach new markets by providing us with the capability to develop and market innovative new lamb based products.”
The investment is part funded by the EU Building Sustainable Prosperity fund